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Committee debates lot-based leases, 10-year terms and 25¢/sqft starting point for hangar sites
Summary
Members recommended charging ground-lease rates by lot square footage (not building size), offering multiple lot-size tiers and longer initial leases; one experienced landowner suggested a 10-year term with renewals and proposed 25¢ per square foot as a reasonable initial rate.
The committee spent substantial time discussing a proposed ground-lease and fee schedule for hangar lots. Glenn Tillery urged the village to "charge the land lease rate based on the square footage of the lot, not on the hangar size," and suggested offering three lot-size categories to match differing hangar footprints. He recommended a 10-year term with renewals and noted that longer terms encourage private investment.
Discussion covered caps on post-term increases, minimum hanger size per lot to prevent small buildings on large parcels, and market comparisons: Glenn cited a 25¢ per square foot starting point, while noting he pays about 10.5¢ where he leases in Moriarty. Committee members flagged the need to balance low introductory rates to attract development with protections for lessees who invest in buildings.
